The flow of peoples ideas money and goods that are making an increasing web that links people and places around the world together
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TNC
Transnational co-operation, companies that operate in more than one country
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Producers
the countries that produce the goods and or supply them
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Consumers
the countries that buy the goods and or services
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Trade
Buying and selling of goods or services
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Trade balence
the difference between the amount of services imported and exported by a country or region
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Trade bloc
when all the countries in the bloc agree to trade and free movement of people between their countries e.g European union
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HQ
Headquarters
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R&D
Research and development
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Interdependance
Relying on other countries
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Cultural globalisation
people around the world conforming in their habits and attitudes
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Distribution
Location where products are held i.e warehouses and factories
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Marketing and Retail
Advertising and buying the product
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Manufactoring
Factories the man made products
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Greenfield sites
sites which have not previously been built on this includes the greenbelt of land around cities, they are cheaper to build on
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NIC
Newly industrialised country
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industrial development
increasing the amount of secondary jobs in the country
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development gap
the economic difference between MEDCs and LEDCs
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Export revenue
money a country gains by selling products to other countries
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infrastructure
systems a country needs to work i.e transport water and power
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positive multiplier effect
when industrial development creats better paid jobs giving employees more money to spend in local communities and creating more jobs within those communities
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Rapid urbanisation
cities grow fast
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rural depopulation
countryside loses its population
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Negative multiplier effect
when the loss of an economic activity causes job loses meaning less money to spend locally causing even more job loses in the local area
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Exploitive
Using someone or something unfairly for your own advantage
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HDI
Human development index
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the brant line
developed in 1981 to divide the rich north and the poor south
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unfairtrade
MEDCs buy primary products at low prices use them to manufacture products and sell them
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footlise industry
placed and located without effect from factors such as resources or transport
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brownfield
a site or potential building development which has previous development on it
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Other cards in this set
Card 2
Front
Transnational co-operation, companies that operate in more than one country
Back
TNC
Card 3
Front
the countries that produce the goods and or supply them
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